The winter tends to be a slower time in real estate. People are coming off of the holidays, not in the mood to make big decisions, and it’s just cold…
But there are three aspects of the real estate market that as an investor, need to be considered:
1) Inventory – The winter tends to have lower inventory than the spring. But, that also means the sellers are about their business, and want the transaction done. Motivated sellers means opportunities for buyers. So keep your eyes open!
2) Renovations – The cold weather can impact your construction goals with a new purchase. Outdoor work is always problematic. Can’t break ground in freezing weather, delays. Your crew got behind at another job because of weather and can’t get to yours on their deadline, delays. Snow kept people home, delays. So take consideration as to the scope of your work when preparing to buy.
3) Planning – The winter might not be your time to buy (at least not this winter) for a variety of reasons. So start preparing for your spring market purchases. The spring market in real estate is busy. Make sure you’re ready for it!
Happy house hunting! We’re here if you need us!